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Global CFI // week 48


Following a long-term increase, Global CFI has stabilized in early December. Despite the fact that gradual upward trend in small-tonnage rates is preserved (the BlSea CFI has risen by another $0.12/t, the EMed CFI by $0.06/t, the WMed CFI by $0.13/t and the Far East CFI has jumped up by $1/t on average), a drop in sea-river rates in the Azov Sea has completely offset this increase. So, the Azov Sea freight rates have fallen by $1.56/t as a result of slackened cargo traffic from the Russian ports. The ISM Commodity Index has grown by 2.2 points over the week primarily due to higher prices for steel products and scrap. Demand for square billets has strengthened slightly in Turkey and Egypt. Turkish importers show lively interest in purchasing scrap and therefore they accept higher prices. Black Sea wheat and maize enjoy steady demand in foreign markets. Export quotes for urea have plunged given overabundant supply which considerably exceeds demand.

Global Coaster Freight Index

CFI is the weighted average of voyage freight rates assessments on main trade routes for grain, steel, scrap, pig iron, coal, fertilizers, minerals and construction cargoes.
List of rates includes those for shipments of above mentioned commodities in 3,000-10,000 t lots.

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